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Steel Partners (SPLP) investor relations material
Steel Partners Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Revenue for Q2 2025 increased 3.5% year-over-year to $552.1 million, with growth across all segments, especially Financial Services and Energy.
Net income for Q2 2025 was $76.8 million, down from $124.9 million in Q2 2024, primarily due to a higher effective tax rate and lower realized gains.
Operating cash flow for the first half of 2025 was $224.2 million, with significant investments and financing outflows.
Financial highlights
Six-month revenue rose 4.1% year-over-year to $1.05 billion, driven by Financial Services (+7.5%), Diversified Industrial (+2.0%), Energy (+10.9%), and Supply Chain (+5.7%).
Net income for the first half of 2025 was $105.9 million, compared to $159.7 million in the prior year.
Diluted EPS for Q2 2025 was $3.43, down from $4.85 in Q2 2024.
Cash and cash equivalents at June 30, 2025 were $346.5 million, down from $404.4 million at year-end 2024.
Working capital at June 30, 2025 was $483.2 million, compared to $625.3 million at December 31, 2024.
Outlook and guidance
Management expects to remain in compliance with all credit facility covenants for the next twelve months.
The company anticipates continued investment in growth, capital expenditures, and pension contributions for the remainder of 2025.
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